For people with private student loans, there's little relief amid the pandemic
by the Student Borrower Protection Center, a nonprofit started last year by Seth Frotman, former assistant director and student loan ombudsman at the Consumer Financial Protection Bureau, after he resigned from the federal agency in protest of what he described as the Trump administration's favoring of predatory lenders over borrowers.
The $130 billion private student loan market is up more than 70% over the last 10 years, and has recently outpaced the growth of auto loans, credit cards and mortgages, the report found. "These findings should be a wake-up call that the true scope of the student debt crisis is even worse than many realize," Frotman said.More from Personal Finance:
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